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Medium term Investment Stock: Buy Ajanta Pharma for target 486

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Ajanta pharma (NSE code: AJANTPHARM), is one of the most outperforming stocks in the pharmaceutical sector. On weekly chart we have seen an excellent trading pattern, we see stock has been in uptrend and this has made us to look for only long positions.

Here on the weekly chart, we have noticed a crossover on slow stochastic indicator which is a signal to buy into Ajanta Pharma stock around 390 to 360 zone for a medium target as 480 and then 515 level. While placing stop loss just below 330 level. Here we see a positive risk:reward ratio, which make the trade really worth taking. Article written on 21 December 12.

See weekly chart of AJANTPHARM:

Ajanta Pharma Weekly Chart
Ajanta Pharma Weekly Chart
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About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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